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What to Consider When Choosing Space for Your Business

What to Consider When Choosing Space for Your Business

What to Consider When Choosing Space for Your Business
July 18
16:25 2016

Determining your location can be the most important decision you make in building a successful business.

Before you start shopping for retail space, you need to have a clear picture of what you must have, what you’d like to have and what you absolutely won’t tolerate. While many start-up mistakes can be corrected later on, a poor choice of location is sometimes impossible to repair.

Be systematic and realistic as you consider the following:

Demographics: Who are your customers and how important is their proximity to your location?

Looking to locations such as Downtown Burlington, there are five condo developments underway bringing additional residents to the downtown. These individuals represent some of Canada’s highest income earners.

“We chose our downtown Burlington location due to the trendy nature of our business as well as the ease of accessibility to the QEW. My entire family can walk to our places of work. We have completely fallen in love with the downtown area. It is a very desirable place to live, work; healthy, safe and sustainable.” -Entrepreneur, Wellpreneur and Founder Carmelle Krasevec.

Next: Take a look at the community. If your customer base is local, does a sufficient percentage of that population match your customer profile to support your business? Does the community have a stable economic base that will provide a healthy environment for your business?

Burlington rises to the top in this area. For the third year in a row, Burlington has been rated Canada’s Best Mid-sized City in which to live by Moneysense Magazine.

“Burlington is a great place to do business. A beautiful waterfront that is second to none. It is a place where people want to be. “Vince Molinaro, President, Molinaro Group.

Now think about your work force. What skills do you need, and are people with those talents available? Does the community have the resources to serve their needs? Again, we turn to Burlington. The city attracts an impressive combination of talented professionals that benefit from Burlington’s high quality of life, abundance of recreational amenities, and ready access to the Niagara Escarpment and Lake Ontario. There is a generous mix of employment opportunities with leading employers, offering a range of careers in fields ranging from finance and business professions, to engineering and applied science.

Be systematic and realistic as you consider which location works best for your company’s needs. The time you take now could save you many problems later.


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